540 S Mountain View Drive
Palm Springs, CA 92264
MLS #17226014PS

Income
  • 4units
  • 3,356sq ft
$759,000
Est. P&I payment: $2898.87/mo
540 S Mountain View Drive, Palm Springs, CA 92264
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Description for 540 S Mountain View Drive, Palm Springs, CA 92264
Mid-Century 4 plex income property in South end Palm Springs. Pride-of-ownership and very well maintained. Consists of two 2br/1ba, one 2br/2ba, one 1br/1ba units. Could be reconverted to 5 units for another $1000 per month of income. All floors are stained cement, exterior windows have been replaced, retiled bathrooms, newer kitchens, all units share a courtyard as well as have a private outdoor space. Current rents are believed to be under market. All 4 units have their own electric and gas meters. There is a community laundry and off-street assigned parking for each unit plus 3 guest parking. Live in one unit and rent the rest. Drive by only DO NOT DISTURB TENANTS. Cap rate on projected rents is 6.50.
MLS #17226014PS
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My Notes for MLS #17226014PS

General Features

  • Number Of Buildings: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Year Built: 1955
  • Zoning: R2
  • Subdivision Name: Demuth Park
  • Subdivision Name Other: Demuth Park
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Drapes: 4
  • Number With Patio: 4
  • Number With Range: 4
  • Number With Refrigerator: 4

Exterior Features

  • Stories Total: 1
  • Lot Size SqFt: 10,203
  • Lot Size Units: Square Feet
  • Parking YN: 1
  • Parking Features: Assigned,​Parking Space,​Uncovered,​Guest

Utility Features

  • Laundry YN: 1
  • Laundry Features: Gas Dryer Hookup,​Individual Room,​Community
  • Utilities: Cable Available
  • Appliances YN: 1
  • Appliances: Garbage Disposal,​Refrigerator,​Dishwasher
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4

Financial Features

  • Net Operating Income: 34,063
  • Price Per SqFt: 226.16
  • Total Expenses: 7,337
  • Gross Multiplier: 19.9
  • Gross Operating Income: 41,400
  • Tenant Pays: Electricity,​Gas,​Water

Miscellaneous Features

  • Building Area Total: 3,356
  • Days On Market: 300
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 300

Location

 
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Directions to 540 S Mountain View Drive, Palm Springs, CA 92264
Take Ramon East from Palm Canyon Drive to Mountain View, right on Mountain (past El Cielo) View. Property on left.
Listing information for 540 S Mountain View Drive, Palm Springs, CA 92264 was graciously provided by our friends at the listing brokerage, Bennion Deville Homes and by listing agent Ross Kelli DRE# 01224922

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P&I Payment $2898.87
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 04/21/2018 at 1:12pm
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